May 22, 2018 / 7:27 AM / Updated 2 hours ago

China to cut import duty on cars to 15 percent from 25 percent - Bloomberg

Reuters Staff

1 Min Read

BEIJING (Reuters) - China will cut the import duty on passenger cars to 15 percent from 25 percent currently, Bloomberg reported on Tuesday, citing unidentified sources.

A Mitsubishi Eclipse Cross car (in red) is displayed during a media preview at the Auto China 2018 motor show in Beijing, China April 25, 2018. REUTERS/Jason Lee

The report said China’s cabinet has decided to cut the levy without elaborating further. Bloomberg previously reported Beijing was considering cutting the tariff rate to as low as 10 percent.

Reporting by Beijing Monitoring Desk; Editing by Christian Schmollinger